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GE Money Home Lending - There mistakes have put my family at Risk!


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My wife and I are first time buyers and because of costs on the increase to say we are struggling is an understatement. The problem we have with GE Money Home Lending is that they cannot get things right. For example in April 08 they tried to withdraw money from our bank account for the monthly instalment on our mortgage. The problem was it was the wrong day and there they managed to over draw us with our back. As a result, we received a bank charge of £38. When I challenged GE Money Home Lending, at first they were not willing to accept responsibility for their error but instead were going to charge £40+ every month for going into arrears. Three letters, threat of legal action, using FSA and the media, I finally got what I wanted. They accepted responsibility and wavered the admin fees. However, we are still in arrears and still have to pay extra to bring the arrears down. My second and most recent problem is this. On the 1st November 2008, I rang GE Money Home Lending to make my monthly mortgage payment by card. The collections team had taken my card details and payment and they assured me that the payment had gone through. This was confirmed when I checked my bank and discovered that they had taken their money and their company name was on my statement. However, on the 4th November 2008 I checked my online bank again to discover that I had a large sum of money there which I was not expecting. It seems for whatever reason GE Money Home Lending have given me the money back and somehow their company name and fee which I paid by card has now vanished from my online bank statement. When I followed this up with my bank, they were dumfounded as they could not understand why (a) GE Money Home Lending had given me the money back even though there were sufficient funds in my account and (b) how the hell did they managed to remove their company name and fee amount from my online bank statement?

 

None of this adds up. Once again I feel like I am in the hands of a dodgy mortgage company. After much research, all I can say is that GE Money has been in court for things like this more than I have had hot dinners.

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yes you do have good instincts..... you are dealing with crooks....please feel free to browse all my postings here and penalty charges other forum..If I were in your situation hit them straight away with SAR'S BOTH TO GE and any of their solicitors who have had any contact with you. There business model is to trip people up with mistaken charges and snowball you int a repo situation and rob you blind...Howevever they are not good at writing loan agreements and many are not set up right...please pm me so i may share some of the things to look out for with GE

 

ps I am no legal expert but just trying to help from experience...

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  • 3 weeks later...

hi am looking at reclaiming some of the charges on my GE MONEY loan for 12000 POUNDS have settled on this but there is a whole load of charges on this loan for...missing instalment fees..unpaid direct debit fees..calling in notice...settlement interest of 1200...settlement administraation fees...redemption fee....interest added to date of settlement...add future charges....not sure now what i should be claiming back..if any or best way to go about this .any advice would be much appreciated...

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I successfully reclaimed all these charges ie late payment admin etc they also they have the accrued interest for the charge in the statements you must claim all these. Have you done your SAR....I went all the way to court with them the judge told them that he saw these loan companies as the same as credit cards and that they should offer me the full claim and he gave them 10 min Dont sign any gagging clauses or promises not to make future claims...They will try lots of crap letters and bits of paper to put you off just ignore and enjoy it all...

 

feel free to pm me for advice

 

most of my details of this is on the other "penalty charges forum " again go to ge money section again micko19

 

cheers

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  • 1 year later...

I read the comments of the family who was put at risk by G E Money. Our family were forced into bankruptcy by a negligent act on the part of G E Money. They knew they had "fouled up" and that their incompetence would cause our bankruptcy, yet they refused to put matters right, and they, and their solicitors, totally ignored all our correspondence, or a request for a meeting with management( although this is promised in their advertisement blurb!). This all occurred over an alleged missed payment of mortgage(despite all others being faithfully paid for years!!!). In fact they later re-wrote our financial statement(without our knowledge) to make it appear as though we had made the payment in question. I even had letters from them stating that we did not owe anything, yet they still placed our names on Credit Reference Agencies for nearly a year, and despite all pleas refused to remove them. This ruined our fifty five year old business, and our perfect credit rating, and led on to bankruptcy due to refusal of loan working capital, which we had never before encountered in over fifty years of business borrowing. They breached a number of financial ethical codes and requirements in their treatment of us.

 

So here we are, bankrupt, despite always having paid our mortgage, and with our former blameless credit record destroyed, and having done nothing wrong, or contributed in any way to our own downfall. As you can imagine I am not happy, and am certainly not going to take it "lying down". I am now preparing to bring further proceedings against them and, if nothing else, to try and "strike a blow" for all the others, with complaints about GE subscribing to this and other sites. GE MUST be stopped from ruining people's lives and People power must achieve this. I have involved the Press and my MP and FSA(who cannot deal with individual matters) and there are other bodies worth contacting. Our family are now living courtesy of the tax payer, who did not cause our bankruptcy, and the means of self support, which we have now lost. It is grossly unfair that the taxpayer should have to pay for GE's negligence. I would like to form a petition of signatures from all parties who have been "done" by GE Money. If there are enough signatures the "powers that be" cannot afford not to investigate them. Any ideas - I don't know how to get it started, but I might get some assistance from my MP. Watch this space!!

 

Keep after them!

 

Pat

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:!::!:I read the comments of the family who was put at risk by G E Money. Our family were forced into bankruptcy by a negligent act on the part of G E Money. They knew they had "fouled up" and that their incompetence would cause our bankruptcy, yet they refused to put matters right, and they, and their solicitors, totally ignored all our correspondence, or a request for a meeting with management( although this is promised in their advertisement blurb!). This all occurred over an alleged missed payment of mortgage(despite all others being faithfully paid for years!!!). In fact they later re-wrote our financial statement(without our knowledge) to make it appear as though we had made the payment in question. I even had letters from them stating that we did not owe anything, yet they still placed our names on Credit Reference Agencies for nearly a year, and despite all pleas refused to remove them. This ruined our fifty five year old business, and our perfect credit rating, and led on to bankruptcy due to refusal of loan working capital, which we had never before encountered in over fifty years of business borrowing. They breached a number of financial ethical codes and requirements in their treatment of us.

 

So here we are, bankrupt, despite always having paid our mortgage, and with our former blameless credit record destroyed, and having done nothing wrong, or contributed in any way to our own downfall. As you can imagine I am not happy, and am certainly not going to take it "lying down". I am now preparing to bring further proceedings against them and, if nothing else, to try and "strike a blow" for all the others, with complaints about GE subscribing to this and other sites. GE MUST be stopped from ruining people's lives and People power must achieve this. I have involved the Press and my MP and FSA(who cannot deal with individual matters) and there are other bodies worth contacting. Our family are now living courtesy of the tax payer, who did not cause our bankruptcy, and the means of self support, which we have now lost. It is grossly unfair that the taxpayer should have to pay for GE's negligence. I would like to form a petition of signatures from all parties who have been "done" by GE Money. If there are enough signatures the "powers that be" cannot afford not to investigate them. Any ideas - I don't know how to get it started, but I might get some assistance from my MP. Watch this space!!

 

Keep after them!

 

Pat

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